Gridiron Capital has acquired LeafFilter, a provider of gutter protection services to residential homeowners in North America. LeafFilter’s systems protect homes from the damages of clogged gutters, including foundation damage, structural issues, and other water-related problems.
The company designs, sells, ships, installs, services, and warranties the product directly to the consumer, through its captive field office network. The company serves regions in 34 states through 36 office locations across the United States and Canada and has installed over 27 million feet of gutter protection product to date. The company was founded in 2005 by Matt Kaulig and is headquartered north of Akron in Hudson, OH (www.leaffilter.com).
“We are extremely proud of the company we have built over the past 12 years and are excited to partner with Gridiron Capital as we enter our next phase of growth,” said Mr. Kaulig. “Our team was eager to work with Gridiron Capital who shares our entrepreneurial and performance driven culture and has significant experience partnering with founder-owned businesses.”
Gridiron Capital invests in manufacturing, service and specialty consumer companies that have EBITDAs from $5 million to $30 million and that are located in the United States and Canada. The firm is based in New Canaan, CT (www.gridironcapital.com).
“Having significant experience with our own family-owned businesses, we are impressed by the strong foundation Matt has built with LeafFilter,” said Tom Burger, Managing Partner of Gridiron Capital. “The hard work and dedication of him and his team mirror the same values and culture we have at Gridiron Capital. We are looking forward to helping to build and grow an already outstanding company.”
“We were able to work collaboratively with Matt and his team prior to the investment to map out a clear growth strategy and plan for the resources needed to scale the company,” said Joe Saldutti, Managing Director at Gridiron Capital. “We’re excited to have the opportunity to partner with the LeafFilter team as they continue to build and expand their business.”
In October 2016, Gridiron held a final closing of the firm’s third fund, Gridiron Capital Fund III, LP, at the hard cap of $850 million. Gridiron’s earlier fund closed with $425 million of capital commitments in August 2012.
© 2017 Private Equity Professional | May 2, 2017
